SREI Equipment Finance Ltd NCD Dates, Size, Allotment, Subscription, RHP & more
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the SREI Equipment NCD release date, NCD issue size, subscription, SREI Equipment Finance Ltd NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.
SREI Equipment Finance Ltd NCD – August 2018 Detail
| Credit Rating | BWR AA/Negative, Acuite AA-/Stable |
| Issue Open | Aug 19, 2019 |
| Issue Close | September 18, 2019 |
| Issue Size (Base) | Rs 1,000 million |
| Issue Size (Shelf) | Rs. 14,000 million. |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Tenor | 400 days/ 2 year/ 3 year/ 5 year |
| Series | Series I to Series X |
| Payment Frequency | Monthly, Quarterly and Annual |
| Basis of Allotment | First Come First Serve Basis |
SREI Equipment Finance Ltd NCD – Basis of the Offer Price
| ISSUE STRUCTURE | |
| Security Name | SREI Equipment Finance Ltd |
| Security Type | Secured, Non-Convertible Debentures and Unsecured NCDs |
| Coupon payment frequency | Monthly, Quarterly and Annual |
| Coupon type | Fixed |
| Tenor | 400 days/ 2 year/ 3 year/ 5 year |
| Depository | NSDL and CDSL |
| Disbursement | SEBI Debt Regulations |
| Debenture Trustee | Axis Trustee Services Limited |
SREI Equipment Finance Ltd NCD Dates
The opening and the closing date of SREI Equipment Finance Ltd NCD is Aug 19, 2019 to September 18, 2019.
SREI Equipment Finance Ltd NCD Subscription
| Day / Date | QIB Category 1 | NII Category 2 | HNI Category 3 | RII Category 4 | Total Subscription |
| 1st – 10th Day: till Aug 29, 2019 | 0.00x | 0.00x | 0.15x | – | 0.09x |
| 10th – 20th Day: till Sep 11, 2019 | 0.01x | 3.00x | 0.93x | – | 1.16x |
| 20th – 30th Day: till | – | ||||
| Shares Offered or Net Issue | 200,000 | 200,000 | 600,000 | – | 1,000,000 |
The shares subscribed by the public will be updated here.
SREI Equipment Finance Ltd NCD Allotment Status
Here, you can find the Allotment Status of this NCD.
SREI Equipment Finance Ltd NCD Share Offering
Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.
SREI Equipment Finance Ltd NCD Allocation Ratio
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| QIB – Category 1 | 20% |
| NII – Category 2 | 20% |
| Individual – Category 3 | 60% |
SREI Equipment Finance Ltd NCD Offered
| NCD’s Offered | |
| Category | NCD’s Reserved |
| QIB – Category 1 | 200,000 |
| NII – Category 2 | 200,000 |
| Individual – Category 3 | 600,000 |
| Total NCD’s | 1,000,000 |
SREI Equipment Finance Ltd NCD Coupon Rates
| Series | I | II | III | IV | V | VI | VII | VIII | IX | X |
| Frequency of Interest Payment | N.A. | Quarterly | Annual | N.A. | Monthly | Annual | N.A. | Monthly | Annual | N.A. |
| Nature of Instruments | Secured NCD | |||||||||
| Tenor from Deemed Date of Allotment | 1 year 1 month | 2 Years | 3 Years | 5 Years | ||||||
| Minimum Application | Rs. 10,000/- (10 NCDs) across all Series collectively | |||||||||
| Face Value/Issue Price of NCDs (Rs. / NCD) | Rs.1,000/- | |||||||||
| In Multiples of (Rs. ) thereafter | Rs.1,000/- (1 NCD) | |||||||||
| Coupon (% per annum) for Category I, Category II & Category III Investor(s) | NA | 9.88% | 10.25% | NA | 9.95% | 10.40% | NA | 10.15% | 10.65% | NA |
| Effective Yield (per annum) for Category I, Category II & Category III Investor(s) | 10.01% | 10.24% | 10.37% | 10.26% | 10.41% | 10.48% | 10.40% | 10.62% | 10.69% | 10.66% |
| Mode of Interest Payment | Through various modes available. | |||||||||
| Amount (Rs. /NCD) on Maturity for Category I, Category II & Category III Investor(s) | 1,109 | 1,000 | 1,000 | 1,216 | 1,000 | 1,000 | 1,346 | 1,000 | 1,000 | 1,660 |
| Tenor | 1 Years 1 month | 2 Years | 3 years | 5 years | ||||||
SREI Equipment Finance Ltd NCD Issue Object
These are the NCD Issue Objects of the company
- For the purpose of lending/ repayment of loan – minimum 75% of the Net Proceeds of the Tranche 1 Issue.
- For General Corporate Purposes – up to 25% of the Net Proceeds of the Tranche 1 Issue. The unutilized amount if any will be used for purpose of lending/ repayment of loan.
SREI Equipment Finance Limited – Company Overview
They are the leading financier in the Construction, Mining and allied Equipment (“CME”) sector in India, with an approximately 33.00% market share in Fiscal 2018 (Source: Feedback Reports). This sector primarily consists of equipment used for earthmoving and mining, concreting, road building, material handling, material processing and allied activities. Their product offerings include loans, for new and used equipment, and leases.
In more than 27 years of their Group’s operations, they have demonstrated clear market differentiation through their holistic approach to providing equipment financing solutions (Source: Feedback Reports). This approach covers the value chain in the equipment life cycle by providing financing to and sustaining continuous engagement with customers across equipment procurement, deployment, maintenance and exit stages.
The equipment-centric services they provide include preferred financing schemes offered by them in conjunction with Original Equipment Manufacturers (“OEMs”), equipment deployment assistance during project downtime, spare parts financing, exchange programme financing and used equipment financing.
SREI Equipment Finance Ltd NCD Lead Managers
| Lead Managers |
| IIFL Holdings Limited
Tipsons Consultancy Services Private Limited Edelweiss Financial Services Limited Trust Investment Advisors Private Limited |
SREI Equipment Finance Ltd NCD Debenture Trustee
| Debenture Trustee |
| Axis Trustee Services Limited Axis House, Bombay Dyeing Mills Compound Pandurang Budhkar Marg, Mumbai 400 025 Tel: +91 22 6230 0451 Fax: -Email: debenturetrustee@axistrustee.com Investor Grievance Email: complaints@axistrusee.com Website: www.axistrustee.com Contact Person: Chief Operating Officer Compliance Officer: Ms Kadiyala Krishna Kumari SEBI Registration No.: IND000000494 |
SREI Equipment Finance Ltd NCD Registrar to offer
| Registrar to the Offer |
| Karvy Fintech Private Limited Karvy Selenium Tower B, Plot 31-32, Gachibowli Financial District, Nanakaramguda, Hyderabad – 500 032 Tel: +91 40 6716 2222 Fax: +91 40 2343 1551 Email: selfncd5.ipo@karvy.com Investor Grievance Email: einward.ris@karvy.com Website: www.karisma.karvy.com Contact Person: Mr. Murali Krishna M Compliance Officer: Mr. Rakesh Santhalia SEBI Registration No.: INR000000221 |
SREI Equipment Finance Ltd NCD Ratings
The NCDs proposed to be issued under this Issue have been rated “BWR AA+” (Outlook: Stable) by Brickwork Ratings India Private Limited (“BRICKWORK”) pursuant to letter dated April 12, 2017 and further revalidated by letters dated October 11, 2018 and November 28, 2018 and “ACUITE AA+/Stable” by ACUITE Ratings Limited (“ACUITE”) pursuant to letter dated April 06, 2017 and revalidated by letters dated September 18, 2018, October 9, 2018 and December 03, 2018.
Instruments with a rating of ‘BWR AA+” (Outlook: Stable) by BRICKWORK and “ACUITE AA+/Stable” are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
SREI Equipment Finance Ltd NCD News
News 1 – Download RHP Prospectus
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